The blogosphere has a veritable plethora of folks commenting on the plight that is Gap (see links below).
There probably are constraints that limit the pace at which Gap can change:
*** Shareholders demand an improvement in the average price of a share of Gap stock.
*** For the stock price to rise, sales and profit must rise.
*** Analysts, experts and pundits think Gap must target a niche, and not appeal to the masses.
*** Not appealing to the masses will likely cause short-term sales declines.
Too many stores, too much competition, merchandise that is too basic, not enough advertising with trendy entertainment stars, irrelevant to its target audience, what do you think Gap's problems are, and how would you fix the business, given the constraints listed above?
Recent Gap Discussions In The Blogosphere And The Press:
*** Lightheavyweight: Fixing The Gap Redux
*** NewMarketBuilder's Retail Blog: Gap Is In Need Of A Niche
*** Seeds Of Growth: Fixing The Gap
*** Mish's Playground: Closing The Gap
*** GlobeAndMail: The Decline Of An American Fashion Icon
*** Brand Autopsy: Would You Miss The Gap?
*** Ad Jab: The Gap Thinks Celebrities Will Help Turn Business Around
*** The Runway Scoop: Gap Gets Rid Of CEO
*** USA Today: Can Gap Be Saved?
*** The Rage Diaries: The Gap Post Y'All Knew I Was Going To Write